A source claims Middleton's parents are overjoyed by the news, telling the publication, "Mike and Carole Middleton are very happy. They like James and they are sure he will make Pippa very happy."

A representative for the Middleton family has yet to comment on the news, but it's not the first time the former party planner has sparked engagement rumors -- in 2013, she shot down claims she was to marry her then-boyfriend, stockbroker Nico Jackson. They split last autumn.

Middleton rose to fame in April 2011, when she stunned the world in a figure-hugging Alexander McQueen dress at her sister's wedding to Prince William.